PERT-Tool for R and D Project Decision Making

Abstract

The question of whether PERT is of significant value to project managers will not be resolved until the technique is understood to be a tool for a newly recognized function rather than a new tool for an old function. The newly recognized function is decision making as opposed to the old function of planning and control. The need for the performance of the new function arises from the dynamic and complex character of modern R and D projects. PERT as a decision-making tool can best be understood within the framework of the decision-making process. The decision-making framework indicates that assumptions must continuously be made in four areas. The information needed to develop these assumptions constitutes the information necessary for decision making. The information obtained by PERT provides a portion of this information.